Williams Shares Fall on Board Turmoil; Will It Go It Alone?

By

Amey Stone

Updated July 1, 2016 2:25 p.m. ET

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By

Amey Stone

Updated July 1, 2016 2:25 p.m. ET

Shares of Williams Cos. (WMB) were trading nearly 5% lower Friday as investors pondered the company's future now that Energy Transfer Equity (ETE) terminated its merger agreement (which shareholders voted for earlier this week) and half the board quit Thursday over a dispute about who would lead the company.

Two activist investors were among the board members who relinquished their seats. They said in their resignation letters that they planned to remain active in influencing the company's strategic direction. Both were...